Retail Venture

ARTICLES ABOUT RETAIL VENTURE BY DATE - PAGE 4

NEW DELHI: Union minister for food processing industries Subodh Kant Sahai said on Tuesday he is optimistic of India opening up foreign direct investment (FDI) in multi-brand retail in 2011. "I am open to FDI in multi-brand retail as it will give boost to the Indian farming sector. The issue is very much on the agenda. We are hopeful something will come up on the same next year," Mr Sahai said. India's retail sector is largely closed to foreign firms and favours small mom-and-pop stores, with 51% FDI allowed only in single-brand retail.

MUMBAI: It seems Noel Tata can't stay away from retail for long. Just three months after he took charge of Tata International, the overseas trading company of the Tata Group has decided to enter footwear retailing in the country. "Tata International has already signed few properties in the suburbs of Mumbai and Delhi for footwear retailing," said a person close to the development. While Tata International's spokesperson was unavailable for comment, a senior official said on condition of anonymity: "Retail is a logical extension of Tata International's current business.

NEW DELHI: Consumer goods firm, Dabur India Ltd will start adopting the franchise route for its retail stores 'Newu' and explore smaller format stores in order to expedite expansion. The company's subsidiary, H&B Stores Ltd that currently operates 22 'Newu' stores primarily in North India, is also looking to open up to 150 new stores in 2011-12 and enter in the western region. It is also trying express or smaller formats that have quick turnaround time, besides focusing on 'beauty' as a category, as it looks to break even in the next two years.

NEW DELHI: Chennai-based Shriram Group on Tuesday said its decision to buy retail operations of Vishal Retail is a part of a strategy to further reach out to masses and plans to build on the current business of the debt-ridden firm. The Shriram Group that primarily focuses on financial services, however, said its future plans for the retail chain will be governed by legal and shareholders' approval. "It is an investment into the non-financial business.

NEW DELHI: Cash-plush Reliance Industries , headed by Mukesh Ambani, has asked property owners to take part in the ambitious growth plan for its retail venture by renting or selling real estate space across the country. The company has invited applications from property owners as it wants commercial space between 3,000 and 30,000 sq ft and above for Reliance Retail, according to information posted on its website. This is part of RIL's plans to expand its retail venture tenfold in the next five years, at a cost of Rs 45,000 crore.

NEW DELHI: Aditya Birla Retail, which runs More supermarkets and hypermarkets, has closed 39 stores, including two-thirds of its outlets in Gujarat, company CEO Thomas Varghese said. The retail venture of the $28-billion Aditya Birla Group has closed these stores over the last nine months as part of a strategy to discontinue unprofitable stores. "Any store that is not making money by next fiscal will be shut down," Mr Varghese said. That could mean a gradual end to its Gujarat operations.

Reliance Retail will soon pilot the retail venture of Office Depot and open the first Hamleys toy store as the Mukesh Ambani-led retailer beefs up its portfolio and expansion plans. Its offerings under the lifestyle umbrella range from books & music, apparel, toys and opticals to jewels and office supplies. ET caught up with Reliance Retail's president & chief executive-Lifestyle Bijou Kurien for an exclusive interview. Edited Excerpts: Are the multiple verticals under the Lifestyle division operating profitably?

MUMBAI: Kumar Mangalam Birla's retail venture, Aditya Birla Retail, is reportedly open to roping in a financial investor to fund its expansion plans. Even though the company declined comment, it is learnt from sources that the firm is not averse to diluting its equity by about 10% to a sleeping partner. However, it would rather wait for more clarity on the regulatory front with respect to such investments. Given the rate at which Aditya Birla Retail is expanding , funding will be an important factor especially with the rising rentals in the realty market, industry sources said.

NEW DELHI | MUMBAI: Mukesh Ambani has turned to a 47-year old expatriate from Reliance Retail include RIL chairman Mukesh Ambani and Manoj Modi, widely regarded as Mr Ambani's right-hand man. Dipak Jain, former dean of the Kellogg School of Management, is an independent director. The choice of an Asian, with an exposure to western markets as well, means that chances of success may be higher, said the above quoted official. Tesco in Thailand faced similar problems as Reliance does here, with thousands of competing kirana shops, which are versatile in their approach to satisfy customers, unlike the rigid structure of an organised retail store, he said.

NEW DELHI: With the economy back on the recovery track, senior executives are once again eyeing the exit door. Emboldened by easing credit flow and a palpable pick-up in consumer demand, a raft of officials holding senior-level positions at major companies straddling across sectors are leaving their jobs to branch out on their own. Among them is Jessie Paul, Wipro Tehnologies' 39-year-old chief marketing officer, who left to...